BANGLADESH ENERGY REGULATORY COMMISSION …

BANGLADESH ENERGY REGULATORY

COMMISSIONINDEPENDENT AUDITOR’S

REPORT AND

FINANCIAL STATEMENTSFOR

THE YEAR ENDED30 JUNE 2020

AUDITOR’S REPORT ANDFINANCIAL STATEMENTS

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Zoha Zaman Kabir Rashid & Co. Chartered Accountants

Independent Auditor’s ReportTo

Bangladesh Energy Regulatory CommissionOpinion

We have audited the financial statements of Bangladesh Energy Regulatory Commission (the ‘’Commission”), which comprise the statement of Financial position as at 30 June 2020, and the Statement of Income and Expenditure, Statement of Revenue, Income and Capital Expenditure, Statement of changes in equity and Statement of Cash Flows for the year then ended, and Notes to the Financial Statements, including a summary of significant accounting policies.

In our opinion the accompanying financial statements present fairy, in all material respects, the financial position of the Bangladesh Energy Regulatory Commission as at 30 June 2020, and of its financial performance and its cash flows for the year then ended in accordance with International Financial Reporting Standards (IFRSs) and other applicable laws and regulations.

Basis of Opinion

We conducted our audit in accordance with International Standards on Auditing (ISAs). Our responsibilities under those standards are further described in the Auditors’ Responsibilities for the Audit of the Financial Statements section or our report. We are independent of the Commission in accordance with the International Ethics Standards Board for Accountants’ Code of Ethics for Professional Accountants (IESBA Code) together with the ethical requirements that are relevant to our audit of the financial statements in Bangladesh, and we have fulfilled our other ethical requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Key audit matters

key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the financial statements of the current period. These matters are addressed in the context of our audit of the financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.

Risk Our response to the risk

1. Investment in FDR

The Commission has total Investment in FDR Tk. 1,420,170,244 (2019: 1,673,726,947) in government and non-government commercial bank during the financial year 30 June 2020 which is 78.10% of total asset. The commission has encashed Thirty nine (39) FDR in total TK. 53,857,650 during the financial year.

This was area of focus for our audit and significant audit effort

The Commission’s disclosure relating to FDR investment are included in Note 6.00 “Investment in FDR” & Note 19.00 “Interest on FDR” to the financial position.

We tested design and operating effectiveness of key controls focusing on the following:

♦ We verified the existence and legal ownership of FDR investment;

♦ Obtained and verified the FER Receipt;

♦ Calculate and Verified the Interest received on investment;

♦ Obtain Bank statements for interest received and FDR encashment;

♦ Evaluating the adequacy of disclosure to financial statements.

Finally assessed the appropriateness and presentation of disclosures against FDR investment.

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2. Property, Plant and Equipment

The commission has represents total Property Plant and Equipment (WDV) TK. 111,187,802 (2020: TK. 116,165,795) during the financial year 30 June 2020 which recovers 6.11% of total assets. The commission represents addition for property, plant equipment TK. 3,433,804 and charged depreciation during the financial year tk. 8,411,797 for property, plant and equipment during the financial year 30 June 2020.

This was an area of focus for our audit and significant audit effort

the commission’s disclosure relating to property, plant and equipment are included in Note 4.00 “ Property, Plant and Equipment” & Annexure- A Depreciation” to the financial position.

We tested the design and operating effectiveness of key controls focusing on the following:

♦ We verified the existence and legal ownership of Property, Plant and Equipment;

♦ Obtained and verified the property plant register;

♦ Calculate and Verify the depreciation of Property, Plant and Equipment;

♦ Evaluating the adequacy of disclosure to financial statements

Finally assessed the appropriateness and presentation of disclosures against Property, Plant and Equipment.

Other Information

Management of the commission is responsible for the other information. The other information comprises all of the information in the Annual Report other than the financial statements and our auditors’ report thereon. The Annual Report is expected to be made available to us after the date of this auditor’s report.

Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements’ our responsibility is to read the other information identified above when it becomes available and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated.

Responsibilities of Management and Those Charged with Governance for the Financial Statements

Management is responsible for the preparation and fair presentation of the financial statements in accordance with IFRSs, and other applicable laws and regulations and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, management is responsible for assessing the Commission’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Commission or to cease operations, or has no realistic alternative but to do so.

Those charged with governance are responsible for overseeing the Commission’s financial reporting process.

Auditor’s Responsibilities for the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatements, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part an audit in accordance with ISAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

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• Identified and assessed the risks of material misstatement of the financial statement, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtained audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risks, of not detecting a material resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• Obtained an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances

• Evaluated the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.

• Concluded on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Commission’s ability to continue as a going concern. If we concluded that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions were based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Commission to cease to continue as a going concern.

• Evaluated the overall presentation, structure and content of the Commission’s financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirement regarding independence, and to communicate with them all relationship and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

Report on Other Legal and Regulatory Requirements

We also report that:

• We have obtained all the material information and explanations which to the best of our knowledge and belief were necessary for the purposes of audit and made due verification thereof;

• in our opinion, proper books of accounts as required by law have been kept by the commission so far as it appeared from our examination of these books; and

• the statement of financial position and statement of income and expenditure together with the annexed notes dealt with by the report are in agreement with the books of accounts and returns;

• the expenditures incurred and payments made for the purpose of the commission’s business for the year.

Dated, Dhaka Zoha Zaman Kabir Rashid & Co. October 08, 2020 Chartered Accountants

Md. Iqbal Hossain FCA Partner

Enrolment no: 596 (ICAB)

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Bangladesh Energy Regulatory CommissionStatement of Financial Position

As at 30 June 2020

Particulars Notes Amount in Taka

30.06.2020 30.06.2019

ASSETS:

Non Current Assets:

Property, Plant and Equipment (WDV) 4.00 111,187,802 116,165,795

Intangible Assets 5.00 1,134,422 1,335,886

Investment in FDR 6.00 1,420,170,244 1,673,726,974

1,532,492,468 1,791,228,654

Current Assets:

Advance against Expenses 7.00 2,130,053 1,874,029

Interest Receivable on FDR 19.00 34,512,340 34,826,868

Cash and Cash Equivalents 8.00 249,216,465 92,886,078

285,858,858 129,586,975

Total Assets 1,818,351,326 1,920,815,629

EQUITY AND LIABLITIES:

Equity

Capital Fund 9.00 27,445,325 27,445,325

Retained Earnings 10.00 1,784,112,762 1,886,784,874

1,811,558,087 1,914,230,199

Current Liabilities:

Creditors for Expenses 11.00 4,239,387 4,603,888

General Provident Fund 12.00 2,151,530 1,762,900

Benevolent Fund 13.00 309,258 172,668

Group Insurance 14.00 93,064 45,974

6,793,239 6,585,430

Total Equity and Liabilities 1,818,351,326 1,920,815,629

The notes 01 to 21 are an integral part of these financial statements. These financial statements were approved by the Commission and were signed on its behalf by:

Director Member Chairman(Finance and Accounts) BERC BERC BERC

Dated, Dhaka Zoha Zaman Kabir Rashid & Co.October 08, 2020 Chartered Accountants

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Bangladesh Energy Regulatory CommissionStatement of Income and Expenditure

For the year ended 30 June 2020

Particulars NotesAmount in Taka

2019-2020 2018-2019

A. INCOME:

Licence Fees and Renewal Fees 15.00 139,482,852 174,329,238

System Operation Fees 16.00 72,828,441 29,255,466

Licence Application Fees 17.00 4,321,513 1,554,300

Interest on FDR 18.00 53,186,392 92,381,578

Bank Interest on SND 19.00 4,095,674 9,108,845

Dispute Settlement Fees 1,315,000 1,535,000

Tariff Fixation ApplicationFee 1,000,000 1,400,000

Recruitment Applicant Fees 582,900 36,400

Others Fees For License (Penalties) 46,238 10,325

Licence Amendment Fee 4,612,500 2,636,700

Other Income 2,077,410 1,050,500

Total Income 283,548,920 313,298,352

B. EXPENDITURE:

Salary & Allowances 20.00 42,013,032 40,569,227

Overtime 1,352,349 1,511,722

Office Rent 16,781,065 16,784,665

Publicity and Advertisement 2,630,290 2,380,259

Printing & Stationary 2,510,582 2,138,163

Entertainment 1,031,491 1,652,134

Daily Labour wages 1,275,900 1,199,425

Depreciation 8,411,797 9,973,330

Amortization 283,605 333,969

Books and Periodicals 176,141 97,441

Examination Fees 104,700 750,000

Petrol and Lubricants 3,466,593 3,326,874

Honorarium/Remuneration 4,169,550 4,355,584

Legal Expenses 217,000 4,015,750

Audit Fees 86,250 110,000

Medical 1,837,612 720,981

Festival Bonus - 1,591,380

Miscellaneous Expenses 384,169 516,142

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Particulars NotesAmount in Taka

2019-2020 2018-2019

Committee Meeting Expenses 141,673 406,925

Postage, Telegram and Telephone 890,277 1,572,459

Computer Accessories 491,065 998,968

Repairs and Maintenance 2,847,018 1,826,037

Bank Charges 677,066 1,399,213

Seminar and Conference 4,173,780 2,156,270

Training 6,576,912 7,692,941

Transport Insurance 1,047,335 973,693

Travelling and Daily Allowances 9,751,190 15,823,166

Utility 1,487,109 2,010,820

Research and Surveys 593,688 3,905,801

Donation to Consolidated Fund 250,000,000 150,000,000

Transfer to Pension Fund 20,000,000 20,000,000

Interest Expense for GPF 723,193 78,107

Social Welfare and Innovation - 934,084

Uniform 88,600 -

Total Expenditure 386,221,032 301,805,530

Excess of Income over Expenditure (102,672,112) 11,492,822



Dated, Dhaka Zoha Zaman Kabir Rashid & Co.

October 08, 2020 Chartered Accountants

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Bangladesh Energy Regulatory CommissionStatement of Income, Revenue and Capital Expenditure



2019-2020 2018-2019

A INCOME:

Licence Fees and Renewal Fees 15.00 139,482,852 174,329,238

System Operation Fees 16.00 72,828,441 29,255,466

Licence Application Fees 17.00 4,321,513 1,554,300

Interest on FDR 18.00 53,186,392 92,381,578

Bank Interest on SND 19.00 4,095,674 9,108,845

Dispute Settlement Fees 1,315,000 1,535,000

Tariff Fixation ApplicationFee 1,000,000 1,400,000

Recruitment Applicant Fees 582,900 36,400

Others Fees For License (Penalties) 46,238 10,325

Licence Amendment Fee 4,612,500 2,636,700

Other Income 2,077,410 1,050,500

Total Income 283,548,920 313,298,352

B REVENUE EXPENDITURE:

Salary & Allowances 20.00 42,013,032 40,569,227

Overtime 1,352,349 1,511,722

Office Rent 16,781,065 16,784,665

Publicity and Advertisement 2,630,290 2,380,259

Printing & Stationary 2,510,582 2,138,163

Entertainment 1,031,491 1,652,134

Daily Labour wages 1,275,900 1,199,425

Depreciation 8,411,797 9,973,330

Amortization 283,605 333,969


Examination Fees 104,700 750,000

Petrol and Lubricants 3,466,593 3,326,874

Honorarium/Remuneration 4,169,550 4,355,584

Legal Expenses 217,000 4,015,750

Audit Fees 86,250 110,000

Membership Fees (SAFIR) - -

Medical 1,837,612 720,981

Festival Bonus - 1,591,380

Miscellaneous Expenses 384,169 516,142

Committee Meeting Expenses 141,673 406,925

Postage, Telegram and Telephone 890,277 1,572,459

Computer Accessories 491,065 998,968

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2019-2020 2018-2019

Repairs and Maintenance 2,847,018 1,826,037

Bank Charges 677,066 1,399,213

Seminar and Conference 4,173,780 2,156,270

Training 6,576,912 7,692,941

Transport Insurance 1,047,335 973,693

Travelling and Daily Allowances 9,751,190 15,823,166

Utility 1,487,109 2,010,820

Research and Surveys 593,688 3,905,801

Donation to Consolidated Fund 250,000,000 150,000,000

Transfer to Pension Fund 20,000,000 20,000,000

Interest Expense for GPF 723,193 78,107

Social Welfare and Innovation - 934,084

Uniform 88,600 -

Total Revenue Expenditure 386,221,032 301,805,530

C CAPITAL EXPENDITURE:

Land 1,387,474 5,793,463

Furniture & Fixture 380,104 445,100

Office Equipment - 626,550

Office Equipment CC Camera - 196,950

Computer Equipment 851,200 1,594,341

Computer Software 82,150 706,763

Motor Vehicle 394,136 16,716,621

Engineering /Communication Equipment

420,890 563,658

Total Capital Expenditure 3,515,954 26,643,446

Total Expenditure 389,736,986 328,448,976



Dated, Dhaka Zoha Zaman Kabir Rashid & Co.

October 08, 2020 Chartered Accountants

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Bangladesh Energy Regulatory CommissionStatement of Changes in Equity


[Amount in Taka]

Particulars Capital

FundTA Project

Retained Earnings

Total Equity

Balance as on 01.07.2019 9,623,496 17,821,829 1,886,784,874 1,914,230,199

Excess of Income over Expenditure - - (102,672,112) (102,672,112)

Balance as on 30.06.2020 9,623,496 17,821,829 1,784,112,762 1,811,558,087

Balance as on 01.07.2018

9,623,496 17,821,829 1,875,292,052 1,902,737,377

Excess of Income over Expenditure - - 11,492,822 11,492,822

Balance as on 30.06.2019 9,623,496 17,821,829 1,886,784,874 1,914,230,199




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Bangladesh Energy Regulatory CommissionStatement of Cash FlowsFor the year ended 30 June 2020

ParticularsAmount in Taka

2019-2020 2018-2019

Cash Flow from Operating Activities:

Excess of Income over Expenditure (102,672,112) 11,492,822

Adjustment for:

Depreciation charged 8,411,797 9,973,330

Amortization charged 283,605 333,969

(i) Operating profit before working capital changes (93,976,710) 21,800,121

(Increase)/Decrease in Advance Against Expenses (256,024) 1,630,783

(Increase)/Decrease in Interest Receivable on FDR 314,528 (7,552,826)

Increase/(Decrease) in Creditors for Expenses (364,501) 1,578,397

Increase/(Decrease) in General Provident Fund 388,630 98,250

Increase/(Decrease) in Benevolent Fund 136,590 32,200

Increase/(Decrease) in Group Insurance 47,090 (4,480)

(ii) Changes in Working Capital 266,313 (4,217,676)

Interest received during the year 356,730 69,875,205

Net Cash flows from operating activities (i+ii) (93,353,667) 87,457,650

Cash flow from Investing Activities:

Acquisition of Property, Plant and Equipment (3,433,804) (25,936,683)

Acquisition of Software (82,150) (706,763)

Investment in FDR 253,200,000 (220,733,188)

Net Cash used in Investing Activities 249,684,046 (247,376,634)

Cash Flow from Financing Activities:

Capital Fund Account - -

Other Finance - -

Net Cash flows from financing activities - -

Net changes in Cash & Cash Equivalent 156,330,387 (159,918,984)

Add: Cash and Cash Equivalents at the beginning of the year 92,886,078 252,805,061

Cash and Cash Equivalents at the end of the year 249,216,465 92,886,078




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Bangladesh Energy Regulatory CommissionNotes to the Financial StatementsAs at and for the year ended 30 June 2020

1.00 About the Commission

Bangladesh Energy Regulatory Commission (BERC) an independent and impartial regulatory body was established on 13th March, 2003 under an Act. of Parliament (Act.No. 13 Of 2003) and started to function with effect from 27th April, 2004 with a view to creating an atmosphere conducive to private investment in the generation of electricity and transmission, transportation and marketing of electricity, gas resources and petroleum products, ensuring transparency in the management, operation and tariff determination in these sectors and protecting consumers interest and promoting the creation of a competitive market.

1.01 Establishment and Constitution of the Commission

Being a statutory body the Commission shall have perpetual succession and common seal with power to acquire and hold movable and immovable properties to transfer such property subject to the provision of the Act and may be by the said name, sue and be used.

The Commission is constituted with a full-time Chairman and Four Members appointed by the President under BERC Act 2003, Section 6 (2) who shall hold office for a period of three (3) years from the date of assumption of their respective office and shall be eligible for reappointment for another term only. At present, the Commission is a fully constituted one.

1.02 Vision of the Commission

To create an enabling environment, efficient, well-managed and sustainable energy sector in Bangladesh for providing energy at just & reasonable cost and protection of consumers interest & satisfaction through fair practice.

1.03 Mission of the Commission

(a) To promote equal opportunities for public and private investments;

(b) To ensure justice through dispute settlement;

(c) To protect consumers’ interest in energy sector;

(d) To ensure good governance in energy sector;

(e) To fix up reasonable tariff in energy sector

(f) To issue licenses among the government and private agencies dealing with energy business;

(g) To ensure efficiencies in energy sector and

(h) To develop competitive market in energy sector.

1.04 Strategic goals of the Commission

(a) To make sure Annual work Plan for every employee;

(b) To make out Annual Performance Agreement between supervisor and subordinate at beginning of every fiscal year;

(c) To fix up training schedule to improve employees’ efficiencies;

(d) To fix up key performance Indicator for evaluation of employee’s performance and

(e) To digitize all operations in BERC.

1.05 Functions of Bangladesh Energy Regulatory Commission

• To determine efficiency and standard of the machinery and appliances of the institutions using energy and to ensure through energy audit the verification, monitoring, analysis of the energy and the economy use and enhancement of the efficiency of the use of energy;

• To ensure efficient use, quality services, determine tariff and safety enhancement of electricity generation and transmission, marketing, supply, storage and distribution of energy;

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• To issue, cancel, amend and determine conditions of licenses, exemption of licenses and to determine the conditions to be followed by such exempted persons;

• To approve schemes on the basis of overall program of the licensee and to take decision in this regard taking into consideration the load forecast and financial status;

• To collect, review, maintain and publish statistics of energy;

• To frame codes and standards and make enforcement of those compulsory with a view to ensuring quality of service;

• To develop uniform methods of accounting for all Licensees;

• To encourage to create a congenial atmosphere to promote competition amongst the Licensees;

• To extend co-operation and advice to the Government, if necessary, regarding electricity generation, transmission, marketing, supply distribution and storage of energy;

• To resolve disputes between the Licensees, and between Licensees and consumers, and refer those to arbitration if considered necessary;

• To ensure appropriate remedy for consumer disputes, dishonest business practices or monopoly;

• To ensure control of environmental standard of energy under existing laws; and

• To perform any incidental functions if considered appropriate by the Commission for the fulfillment of the objectives of this Act for electricity generation and energy transmission, marketing, supply, storage, efficient use, quality of services, tariff fixation and safety improvement.

2.00 Basis of Preparation of Financial Statements

2.01 Basis of Accounting

Bangladesh Energy Regulatory Commission generally follows the accrual basis of accounting except income from fees which are accounted on a cash basis. The Financial Statements have been prepared and the disclosures of information are made in accordance with Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRSs) as long as applicable for the Company.

Figures have been rounded off to the nearest Taka. Figures and Presentation relating to the previous year included in this report have been rearranged, wherever necessary, in order to conform to current year’s presentation.

2.02 Reporting Period

The financial statements cover the financial year from 01 July 2019 to 30 June 2020 with comparative figures for the financial year from 01 July 2018 to 30 June 2019.

2.03 Offsetting

Financial assets and liabilities are offset and the net amount is reported in the financial statements only when there is legally enforceable right to set-off the recognized amounts and the organization intends either to settle on a net basis, or to realize the assets and to settle the liabilities simultaneously.

2.04 Materiality and aggregation

Each material class of similar items is presented separately in the financial statements. Items of dissimilar nature or function are presented separately unless they are immaterial.

2.05 Functional and Presentation Currency

These financial statements are presented in Bangladesh Taka (Taka/Tk.), which is both functional currency and presentation currency of the Commission.

2.06 Level of Precision

The figures in the Financial Statements have been rounded off to the nearest Taka.

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2.07 Components of Financial Statements

The Financial Statements include the following components as per IAS 1 “Presentation of Financial Statements”.

i. Statement of Financial Position;

ii. Statement of Income and Expenditure;

iii. Statement of Income, Revenue and Capital Expenditure;

iv. Statement of Changes in Equity;

v. Statement of Cash Flows;

vi. Accounting Policies and Explanatory Notes.

2.08 Comparative Information

Comparative information has been disclosed in respect of the year 2018-2019 for all numerical information of the Financial Statements and also the narrative and descriptive information when it is relevant for understanding of the current period’s Financial Statements.

Last year’s figures have been rearranged where considered necessary to conform to current year’s presentation.

2.09 Consistency of Presentation

The presentation and classification of all items in the Financial Statements have been retained from one period to another period unless where it is apparent that another presentation or classification would be more appropriate having regard to the criteria for the selection and application of accounting policies or changes is required by another IFRS.

3.00 Accounting Policies

The significant accounting policies followed in the preparation and presentation of these financial statements is summarized below;

Revenue Recognition:

In compliance with the requirements of IFRS 15: Revenue from Contract with Customers, revenue is recognized only when the services are provided and invoiced to the clients and its realization is reasonably certain.

Income realized from License Fees, System Operation Fees, Application Fees, Renewal Fees, Amendment Fees is recognized in the Statement of Income & Expenditures when there is certainty that all of the conditions for receipt of the income have been complied with and the relevant expenditure that it is expected to compensate has been incurred and charged to the Statement of Income & Expenditures.

Net gains and losses on the disposal of property, plant & equipment and other non-current assets, including investments, are recognized in the Statement of Income & Expenditures after deducting from the proceeds on disposal, the carrying value of the item disposed of and any related selling expenses.

Expenditure Recognition:

Expenses in carrying out the operations of Commission and other activities of the commission are recognized in the Statement of Income and Expenditure during the period in which they are incurred. Other expenses incurred in administering and running the organization and in restoring and maintaining the property, plant and equipment to perform at expected levels are accounted for on an accrual basis and charged to the Statement of Income and Expenditure.

Going Concern

The Financial Statements are prepared on a going concern basis. As per Management’s assessment, there is no material uncertainty relating to events or condition which may cast doubt upon the Commission’s ability to continue as a going concern.

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Use of Estimates and Judgments

The preparation of Financial Statements requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. The estimates and underlying assumptions are based on past experience and various other factors that are believed to be reasonable under the circumstances, the result of which form the basis of making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised if the revision affects only that period or in the period of revision and future periods if the revision affects both current and future periods.

In consideration of most closely reflection of the expected pattern of consumption of the assets as well as discretion of Governing Body in current year depreciation policy has been changed from reducing balance method to straight line method.

3.01 Property, Plant and Equipment

3.01.1 Recognition and Measurement

This has been stated at cost less accumulated depreciation in compliance with the requirements of IAS 16: Property, Plant and Equipment. The cost of acquisition of an asset comprises its purchase price and any directly attributable cost of bringing the assets to its working condition.

3.01.2 Maintenance Activities

The Commission incurs maintenance costs for all its major items of property, plant and equipment. Repair and maintenance costs are charged as expenses when incurred.

3.01.3 Depreciation

Depreciation is charged on the cost of the assets over the period of their expected useful life, in accordance with the provisions of IAS 16: Property, Plant and Equipment. Irrespective of the date of acquisition, full year depreciation is charge at the following rates on “Reducing” balance basis:

Sl. No.

Items Rates (%)

1 Office Building (Renovation) 15

2 Furniture and Fixtures 10

3 Office Equipment 15

4 Computer Equipment 20

5 Motor Vehicle 20

6 Engineering & Communication Equipment 15

7 Books & Periodicals 20

8 Sundry Assets 10

3.02 Intangible Assets

3.02.1 Components

The main item included in intangible asset is software.

3.02.2 Basis of recognition

An Intangible asset shall only be recognized if it is probable that future economic benefits that are attributable to the asset will flow to the Commission and the cost of the asset can be measured reliably in accordance with IAS 38: Intangible Assets. Accordingly, this asset is stated in the Financial Statement at cost less accumulated amortization and accumulated impairment losses, if any.

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3.02.3 Subsequent expenditure

Subsequent expenditure on intangible asset is capitalized only when it increases the future economic benefits embodied in the specific assets to which it relates. All other expenditure is expensed as incurred.

3.02.4 Amortization

Irrespective of the date of acquisition, full year amortization of intangible asset is charged on “Reducing” balance method at a rate of 20% to write off the cost of intangible assets.

3.03 Cash and Cash Equivalents

Cash and cash equivalents include cash in hand, in transit and with banks on current and short-term deposit accounts which are held and available for use by the Commission without any restriction. There is insignificant risk of change in value of the same.

3.04 Advances against Expenses

Advances are initially measured at cost. After initial recognition, advances are carried at cost less deductions, adjustments or any other changes.

3.05 Capital Fund

The fund has been provided by the Government of Bangladesh to run the operation of the Commission.

3.06 General Provident Fund

The permanent employees of the Commission contribute to “Bangladesh Energy Regulatory Commission Employees General Provident Fund” which is governed by the General Provident Fund Rules, 1979 as mentioned in regulation no. 54 of Bangladesh Energy Regulatory Commission Employees Service Rules, 2008.

A separate trustee board was formed by the Commission on 12 August 2014 to operate and manage “Bangladesh Energy Regulatory Commission Employees General Provident Fund”. For this purpose, the Trustee Board opened an SND Account on 28 July 2016 at Sonali Bank Limited, Kawran Bazar Branch in the name of “Bangladesh Energy Regulatory Commission Employees General Provident Fund” bearing A/C No.0117203000-217.

3.07 Employees Pension Fund:

The permanent employees of the Commission have the following retirement benefits:

(a) General Provident Fund, and

(b) Gratuity

The Commission has taken initiative to introduce “Pension Scheme” for its permanent employees in place of existing retirement benefit i.e. General Provident Fund and Gratuity. It has already formed a separate Trustee Board to operate and manage “Bangladesh Energy Regulatory Commission Employees’ Pension Fund” on 27 March 2019 in its meeting Ref: 12.2019 according to the direction of “Energy and Mineral Resources Division” of Ministry of Power, Energy and Mineral Resources.

The trustee board has already opened an SND Account on 1 April 2019 at Sonali Bank Limited, Kawran Bazar Branch in the name of “Bangladesh Energy Regulatory Commission Employees’ Pension Fund” bearing A/C No. 0117203000-239.

3.08 Fees Income

Income from Fees has been recognized on cash basis.

3.09 Interest Income

Interest income on fixed deposits has been recognized on accrual basis of accounting in the period in which the income is accrued.

BERC20


3.10 Statement of Cash Flows

The Statement of Cash Flow has been prepared in accordance with the requirements of IAS 7: Statement of Cash Flows. The cash generated from operating activities has been reported using the Indirect Method as the benchmark treatment of IAS 7, whereby major classes of gross cash receipts and gross cash payments from operating activities are disclosed.

3.11 Events after the Reporting Period

Events after the reporting period that provide additional information about the Commission’s position at the date of Statement of Financial Position or those that indicate that the going concern assumption is not appropriate are reflected in the financial statements. Events after reporting period that are not adjusting events are disclosed in the notes when material.

Amount in Taka

30.06.2020 30.06.2019

4.00 Property, Plant and Equipment:

A. Cost

Opening Balance 194,337,989 168,401,306

Add: Addition during the year 3,433,804 25,936,683

197,771,793 194,337,989

B. Accumulated depreciation

Opening Balance 78,172,194 68,198,864

Add: Depreciation charged during the year 8,411,797 9,973,330

86,583,991 78,172,194

Written Down Value (A-B) 111,187,802 116,165,795

A schedule of fixed assets as on 30 June 2020 is enclosed under Annexure-A.

5.00 Intangible Assets:

A. Cost

Opening Balance 1,937,819 1,231,065

Add: Addition during the year 82,150 706,763

2,019,969 1,937,828

B. Accumulated Amortization

Opening Balance 601,942 267,973

Add: Amortization charged during the year 283,605 333,969

885,547 601,942

Written Down Value (A-B) 1,134,422 1,335,886

A schedule of intangible assets as on 30 June 2020 is enclosed under Annexure-B.

6.00 Investment in FDR:

Opening Balance (Principal & Interest) 1,673,726,974 1,522,868,991

Add: Previous year’s Interest Adjustment - -

1,673,726,974 1,522,868,991

Less: FDR Encashment (Principal) 980,000,000 1,307,500,000

693,726,974 215,368,991

Less: FDR Encashment (Interest) 53,857,650 154,703,957

BERC 21


Amount in Taka

30.06.2020 30.06.2019

639,869,323 60,665,034

Add: Investment during the year (Principal) 26,800,000 1,528,233,188

1,366,669,323 1,588,898,222

Add: Interest received during the year 53,500,920 84,828,752

Closing Balance (Principal & Interest) 1,420,170,244 1,673,726,974

A schedule of FDR Investment as on 30 June 2020 is enclosed under Annexure-C.

7.00 Advance against Expenses:

Advance against Petrol & Lubricant (Note: 7.01) 92,040 187,805

Advance against Legal Expenses (Note: 7.02) 160,000 130,000

Advance against Medical Treatment (Note: 7.03) 350,354 350,354

Advance against Mobile Bill Allowance (Note: 7.04) 10,000 10,000

Advance against Travelling Expenses (Note: 7.05) 691,169 867,232

Advance against Others (Note: 7.06) 826,490 328,638

2,130,053 1,874,029

Detail schedule of Advance against Expenses as on 30 June 2020 is enclosed under Annexure-D.

7.01 Advance against Petrol & Lubricant:


Add: Addition During the Year 47,600 508,021 235,405 779,245

Less: Adjustment During the Year 143,365 591,440

Closing Balance 92,040 187,805

7.02 Advance against Legal Expenses:


Add: Addition During the Year 30,000 100,000

160,000 805,796

Less: Adjustment During the Year - 675,796


7.03 Advance against Medical Treatment:


Add: Addition During the Year - 2,000

350,354 350,354 Less: Adjustment During the Year - - Closing Balance 350,354 350,354

7.04 Advance against Mobile Bill Allowance:


Add: Addition During the Year - -

10,000 10,000 Less: Adjustment During the Year - - Closing Balance 10,000 10,000

BERC22


Amount in Taka

30.06.2020 30.06.2019

7.05 Advance against Travelling Expenses:

Opening Balance 867,232 1,880,658

Add: Addition During the Year 3,693,313 1,659,704

4,560,545 3,540,362

Less: Adjustment During the Year 1,937,456 2,673,130

Closing Balance 2,623,089 867,232 7.06 Advance against Others:


Add: Addition During the Year 2,435,308 2,458,473

2,763,946 2,747,253

Less: Adjustment During the Year 1,937,456 2,418,615


8.00 Cash & Cash Equivalents:

Cash In Hand 25,248 64,894

Sonali Bank A/c No. 216 118,382,303 (1,197,420)

Sonali Bank A/c No. 928 130,808,914 94,018,604

249,216,465 92,886,078

9.00 Capital Fund:

Received from GOB 9,623,496 9,623,496

Received from TA Project 17,821,829 17,821,829

27,445,325 27,445,325

Technical Assistance Project (TA Project) for Institutional Development of Bangladesh Energy Regulatory Commission under power sector Development Technical Assistance (PSDTA) Project (IDA Grant No. HO92BD), funded by World Bank, has been successfully completed on 31 December 2012. As per provision of approved TPP of other project (Page 9 of TPP) and decision of the Commission (82nd Commission Meeting CM/82/09) all Assets of the project has been transferred to the Bangladesh Energy Regulatory Commission.

10.00 Retained Earnings:

Opening Balance 1,886,784,874 1,875,292,052

Add: Excess of Income over Expenditure (102,672,112) 11,492,822

Closing Balance 1,784,112,762 1,886,784,874

11.00 Creditors for Expenses:

Labour wages 114,750 71,250

Officer’s Salary 1,343,220 1,321,865

Staff Salary - 123,260

House Rent Allowance 668,237 1,003,194

Medical Allowance 33,000 80,500

Education Allowance 6,500 25,500

Telephone Allowance 9,445 6,900

Special Allowance 76,000 76,000

BERC 23


Amount in Taka

30.06.2020 30.06.2019

Conveyance Allowance - 13,200

Tiffin Allowance - 800

Charge Allowance 3,000 13,339

Overtime 122,487 131,832

Electricity 137,501 210,895

Telephone 50,200 30,207


Audit Fee 86,250 110,000

Office Rent 1,376,122 1,376,122

Internet and Fax 55,500 -

Fuel & Lubricant 102,372 -

Washing - 2,600

Water 43,493 -

Entertainment Allowance 600 -

4,239,387 4,603,888

12.00 General Provident Fund:

Opening Balance 1,762,900 1,664,650

Add: Deduction From Salary during The Year 2,371,430 1,815,700

4,134,330 3,480,350

Less: Transfer to GPF own Account (A/C No.-217) 1,982,800 1,717,450

Closing Balance 2,151,530 1,762,900

During this year, an amount of Tk. 2,705,993 in total, of 54 employees’ contribution of Tk. 1,982,800 along with the interest of Tk. 723,193, have been transferred from the BERC’s SND A/C 0117203000216 to “BERC Employees General Provident Fund” A/C (no. 0117203000-217). In addition , deduction from salary during the year is 2,371,430 after adjusting Tk 34,740 of Benevolent fund and Tk 27,730 of Group insurance which were included in GPF Fund from 2008 to 2013.

13.00 Benevolent Fund:


Add: Deduction From Salary during The Year 136,590 32,200

309,258 172,668

Benevolent fund Tk 34,740 was wrongly ncluded in General provident Fund from 2008 to 2013. This amount is deducted from GPF and included in Benevolent Fund which has included in deduction from salary for this fund during the financial year. During this financial year deduction from salary is Tk. 1,01,850 for benevolent fund.

BERC24


Amount in Taka

30.06.2020 30.06.2019

14.00 Group Insurance:


Add: Deduction From Salary during The Year 47,090 6,760

93,064 57,214

Less: Transfer to SND Account - 11,240


Group Insurance Tk 27,730 was wrongly included in General provident Fund from 2008 to 2013. This amount is deducted from GPF and included in group insurance which is included in deduction from salary for this fund during the financial year. Deduction from salary during the financial year is Tk.19,360 for group insurance.

15.00 License Fees and Renewal Fees:

Power 47,997,220 107,260,496

Gas 45,112,825 35,018,804

Petroleum 46,372,807 32,049,938

139,482,852 174,329,238

16.00 System Operation Fees:

Power - 21,027,137

Gas 72,798,116 7,975,809

Petroleum 30,325 252,520

72,828,441 29,255,466

17.00 Application fees:

Power 3,468,475 764,800

Gas 231,000 91,500

Petroleum 622,038 698,000

4,321,513 1,554,300

18.00 Interest on FDR:

Interest Received during the year 53,500,920 84,828,752

Add: Interest receivable during the year 34,512,340 34,826,868

88,013,260 119,655,620

Less: Last year Receivable 34,826,868 27,274,042

53,186,392 92,381,578

Detail schedule of Interest receivable as on 30 June 2020 is enclosed under Annexure-C.

19.00 Bank Interest on SND/CA:

Sonali Bank A/c No. 216 4,095,674 9,108,845

4,095,674 9,108,845

20.00 Salary & Allowances:

Officers Salary 15,760,530 16,059,407

Staff Salary 6,822,300 6,117,320

Festival Bonus 3,722,130 2,272,970

BERC 25


Amount in Taka

30.06.2020 30.06.2019

Consultation fee 226,989 764,706

House Rent Allowance 12,263,801 11,761,845

Medical Allowance 1,206,966 1,232,596

Charge Allowance 44,484 146,835

Entertainment Allowance 4,200 -

Telecommunication Allowance 78,205 65,100

Bangla New Year Allowance 392,946 393,048

Rest & Recreation Allowance 137,720 601,700

Education assistance Allowance 280,500 298,000

Special Allowance 787,000 562,000

Washing Allowance 28,600 31,200

Tiffin Allowance 114,668 106,800

Conveyance Allowance 141,993 155,700

42,013,032 40,569,227

BERC26


Ban

glad

esh

Ene

rgy

Reg

ulat

ory

Com

mis

sion

Sche

dule

of

Pro

pert

y, P

lant

& E

quip

men

tA

s at

30

June

202

0[A

nnex

ure-

A]

Am

ount

in

Taka

Sl.

No.

Part

icul

ars

CO

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ate

of

D

ep.

DE

PR

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ON

Bal

ance

as

on

01.0

7.20

19

Add

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n D

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th

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year

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on

30.0

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20

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tten

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n 30

.06.

2020

1 2

3

4=1+

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5 6

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4-9

1La

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& F

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380,

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iii.

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6

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442,

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8

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v.O

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890

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566,

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6

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111,

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BERC 27


Ban

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Com

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Sche

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30.0

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BERC28


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0

756,

000

-

2,

016,

000

-

18A

gran

i Ban

k Lt

d 15

.11.

2018

3056

5-37

732

4

0,00

0,00

0 -

40,

000,

000

-

1,26

0,00

0

756,

000

-

2,

016,

000

-

19Br

ac B

ank

Ltd.

15.1

1.20

1854

4800

1

10,

000,

000

-

1

0,00

0,00

0 -

421,

816

25

3,09

0 -

67

4,90

6 -

20So

nali

Bank

Ltd

.27

.12.

2018

935/

0500

0427

6

0,00

0,00

0 -

60,

000,

000

-

1,40

0,45

8

1,

354,

542

-

2,

755,

000

-

21Ja

nata

ban

k27

.12.

2018

5475

79

60,

000,

000

-

6

0,00

0,00

0 -

1,

607,

604

1,55

4,89

6 -

3,16

2,50

0 -

22Th

e CI

TY B

ank

Lim

ited

27.1

2.20

1875

0001

1

0,00

0,00

0 -

10,

000,

000

-

30

0,50

1

290

,648

.26

-

591,

149

-

BERC 29


Sl. N

oN

ame

of B

ank

Ope

ning

Dat

eFD

R N

o.

Inv

estm

ent

Inte

rest

Rat

e %

Int

eres

t

Ope

ning

B

alan

ce

Inv

estm

ent

D

urin

g

the

Year

Enc

ashe

d

Dur

ing

th

e ye

ar

Clo

sing

B

alan

ce

Ope

ning

B

alan

ce

Rec

eive

d D

urin

g th

e Ye

ar

Acc

rued

D

urin

g

the

Year

Enc

ashe

d

Dur

ing

th

e ye

ar

Clo

sing

B

alan

ce

1

23

4 5

6 7

=(4

+5-

6)

8.00

9 10

1

1 1

2=9+

10

13=

(9+

10-

12)

23Ut

tara

Ban

k Lt

d.27

.12.

2018

0655

514

/15

64

10,

000,

000

-

1

0,00

0,00

0 -

288,

929

27

9,45

6 -

56

8,38

5 -

24Ea

ster

n Ba

nk L

td,

27.1

2.20

1810

5585

0261

984

1

0,00

0,00

0 -

10,

000,

000

-

33

5,63

7

324,

633

-

660,

270

-

25Br

ac B

ank

Ltd.

27.1

2.20

1870

460

1

0,00

0,00

0 -

10,

000,

000

-

34

9,19

7

337,

748

-

686,

944

-

26So

nali

Bank

Ltd

.12

.01.

2019

0905

936-

0500

0428

20,0

00,0

00

-

20,0

00,0

00

-

46

4,80

0 53

1,20

0 -

99

6,00

0 -

27Ja

nata

ban

k16

.01.

2019

7586

2

0,00

0,00

0 -

20,

000,

000

-

47

3,09

4

565

,405

.56

-

1,

038,

500

-

28A

gran

i Ban

k Lt

d 16

.01.

2019

6679

2

30,

000,

000

-

3

0,00

0,00

0 -

757,

817

9

05,6

83.3

3 -

1,66

3,50

0 -

29Ba

ngla

desh

Kri

shi B

ank

16.0

1.20

1962

9467

/376

3

25,

000,

000

-

2

5,00

0,00

0 -

569

,856

681

,047

.19

-

1,25

0,90

3 -

30D

utch

- Ba

ngla

Ban

k Lt

d.16

.01.

2019

9640

8 1

0,00

0,00

0 -

1

0,00

0,00

0 -

219

,372

262

,176

.68

-

481,

549

-

31Ut

tara

Ban

k Lt

d.16

.01.

2019

0655

515

/156

5

10,

000,

000

-

1

0,00

0,00

0 -

264,

398

3

15,9

87.3

9 -

58

0,38

5 -

32So

uthe

ast B

ank

Ltd.

16.0

1.20

1973

7788

8

10,

000,

000

-

1

0,00

0,00

0 -

341,

894

4

08,6

05.5

6 -

75

0,50

0 -

33So

nali

Bank

Ltd

.26

.02.

2019

9059

3950

,000

,000

-

50,

000,

000

-

2,33

1,50

6

181

,494

.44

-

2,

513,

000

-

34Ja

nata

ban

k27

.02.

2019

5475

90

50,

000,

000

-

5

0,00

0,00

0 -

899,

349

1,73

2,89

1 -

2,63

2,24

0 -

35A

gran

i Ban

k Lt

d 27

.02.

2019

5073

80

20,

000,

000

-

20,0

00,0

00

-

34

0,30

0

655,

700

-

996,

000

-

36Ba

ngla

desh

Kri

shi B

ank

27.0

2.20

1962

9482

5

0,00

0,00

0 -

50,

000,

000

-

98

6,70

4

1,

901,

209

-

2,

887,

913

-

37EX

IM B

ank

27.0

2.20

1919

6302

3

0,00

0,00

0 -

30,

000,

000

-

79

1,45

6

1,

525,

000

-

2,

316,

456

-

38So

uthe

ast B

ank

Ltd.

27.0

2.20

1912

554

1

0,00

0,00

0 -

10,0

00,0

00

-

25

6,42

1

494,

079

-

750,

500

-

39Ea

ster

n Ba

nk L

td,

27.0

2.20

1926

7334

1

0,00

0,00

0 -

10,0

00,0

00

-

24

1,86

1

466,

024

-

707,

885

-

40Ba

sic

Bank

Lim

ited

20.0

5.20

1810

2732

2

0,00

0,00

0 -

-

20

,000

,000

6.

00%

-

1

,110

,755

129

,578

-

1,1

10,7

55

41IF

IC B

ank

20.0

5.20

1812

8510

3

20,

000,

000

-

-

20,

000,

000

10.5

0%-

1,6

74,7

50

2

58,3

85

-

1

,674

,750

42A

gran

i Ban

k Lt

d03

.07.

2018

5073

49

30,

000,

000

-

-

30,

000,

000

5.75

%-

8,5

44

1,5

28,7

86

-

8

,544

43Ja

nata

Ban

k03

.07.

2018

0547

558

2

0,00

0,00

0 -

-

2

0,00

0,00

0 6.

75%

-

5

,667

1

,198

,638

-

5,6

67

44M

TBL

27.0

2.20

1931

9819

10

,000

,000

-

-

10

,000

,000

6.

00%

-

515,

431

1

89,4

35

-

515

,431

45So

nali

Bank

01.0

4.20

1909

0594

1

70,

000,

000

-

-

70,0

00,0

00

6.00

%-

2,6

52,5

00

937,

699

-

2

,652

,500

46Ja

nata

Ban

k01

.04.

2019

5475

94

80,

000,

000

--

80,0

00,0

00

6.25

%-

3,1

87,5

00

1,1

18,9

45

-

3

,187

,500

47A

gran

i Ban

k Lt

d01

.04.

2019

5073

86

3

0,00

0,00

0 -

-

30,

000,

000

6.00

%-

1,1

47,5

00

402

,008

-

1,1

47,5

00

48Ba

ngla

desh

Kri

shi B

ank

01.0

4.20

1937

81

80,

000,

000

--

80,

000,

000

7.00

%-

3,4

42,5

00

1,2

57,9

04

-

3

,442

,500

49EX

IM B

ank

01.0

4.20

1985

1190

2

0,00

0,00

0 -

-

20,

000,

000

9.00

%-

1,

147,

500

4

11,7

61

-

1

,147

,500

BERC30


Sl. N

oN

ame

of B

ank

Ope

ning

Dat

eFD

R N

o.

Inv

estm

ent

Inte

rest

Rat

e %

Int

eres

t

Ope

ning

B

alan

ce

Inv

estm

ent

D

urin

g

the

Year

Enc

ashe

d

Dur

ing

th

e ye

ar

Clo

sing

B

alan

ce

Ope

ning

B

alan

ce

Rec

eive

d D

urin

g th

e Ye

ar

Acc

rued

D

urin

g

the

Year

Enc

ashe

d

Dur

ing

th

e ye

ar

Clo

sing

B

alan

ce

1

23

4 5

6 7

=(4

+5-

6)

8.00

9 10

1

1 1

2=9+

10

13=

(9+

10-

12)

50BR

AC B

ank

Lim

ited

01.0

4.20

19’০

7047

8

10,

000,

000

-

- 1

0,00

0,00

0 6.

00%

-

58

9,68

8

137

,692

-

5

89,6

88

51IF

IC B

ank

01.0

4.20

1912

8541

5

20,

000,

000

--

20,

000,

000

6.50

%-

1,3

06,8

75

3

01,1

13

-

1

,306

,875

52CI

TY B

ank

Lim

ited

01.0

4.20

1950

002/

5

20,

000,

000

--

20,0

00,0

00

6.00

%-

1,1

47,5

00

2

74,3

10

-

1

,147

,500

53Pr

emie

r Ba

nk li

mite

d01

.04.

2019

0278

794

2

0,00

0,00

0 -

-

20,0

00,0

00

7.00

%-

1,0

20,0

00

3

21,3

45

-

1

,020

,000

54Ja

nata

Ban

k15

.04.

2019

0547

595

2

0,00

0,00

0 -

-20

,000

,000

6.

50%

-

828,

750

2

91,5

13

-

828

,750

55Ba

ngla

desh

Kri

shi B

ank

15.0

4.20

1962

9502

3

0,00

0,00

0 -

- 3

0,00

0,00

0 6.

00%

-

1

,118

,724

337

,588

-

1,1

18,7

24

56Ba

nk A

sia

Lim

ited

15.0

4.20

1938

1062

2

0,00

0,00

0 -

- 2

0,00

0,00

0 6.

00%

-

1

,215

,000

243

,090

-

1,2

15,0

00

57Ba

ngla

desh

Com

mer

ce

Bank

15.0

4.20

1942

39

20,

000,

000

--

20,0

00,0

00

9.00

%-

1,1

47,5

00

3

42,9

43

-

1

,147

,500

58Ja

nata

Ban

k25

.06.

2019

5472

13

30,

000,

000

-

-

30,0

00,0

00

6.70

%-

1,6

80,0

25

30,

097

-

1

,680

,025

59A

gran

i Ban

k Lt

d26

.06.

2019

6769

9

20,

000,

000

--

20

,000

,000

6.

00%

-

1

,005

,833

1

4,88

1 -

1,0

05,8

33

60Ba

sic

Bank

Lim

ited

25.0

6.20

1911

8549

3

0,00

0,00

0 -

-

30,0

00,0

00

6.00

%-

1,7

55,2

50

27,

007

-

1

,755

,250

61Ba

ngla

desh

Kri

shi B

ank

25.0

6.20

1938

11

18,

233,

188

--

18

,233

,188

7.

00%

-

1

,066

,793

1

9,14

5 -

1,0

66,7

93

62Ba

ngla

desh

Com

mer

ce

Bank

25.0

6.20

1928

54

-181

393

2

0,00

0,00

0 -

-

20,0

00,0

00

9.00

%-

1,5

04,5

00

27,

435

-

1

,504

,500

63Pr

emie

r Ba

nk li

mite

d25

.06.

2019

0278

900

20

,000

,000

-

-

20,0

00,0

00

7.00

%-

1,3

37,3

33

21,

592

-

1

,337

,333

64BR

AC B

ank

Lim

ited

08.0

7.20

1948

005

-

21,

800,

000

-

21,8

00,0

00

9.50

%-

-

1

,726

,121

-

-

65Ja

nata

Ban

k14

.10.

2019

5472

24-

20,0

00,0

00

-

20,0

00,0

00

6.70

%-

-

813

,119

-

-

66Ba

ngla

desh

Kri

shi B

ank

14.1

0.20

1938

28-

35,0

00,0

00

-

35,0

00,0

00

7.00

%-

-

1

,474

,674

-

-

67IF

IC B

ank

14.1

0.20

1913

5261

3-

15,0

00,0

00

-

15,0

00,0

00

10.2

5%-

-

932

,964

-

-

68So

uth

East

Ban

k Lt

d.14

.10.

2019

7522

232

-

10

,000

,000

-

10

,000

,000

9.

50%

-

-

576

,465

-

-

69So

nali

Bank

20

.11.

2019

9059

60-

30,0

00,0

00

-

30,

000,

000

6.00

%-

-

927,

250

-

-

70So

nali

Bank

20

.11.

2019

9059

61-

30,0

00,0

00

-

30,

000,

000

6.00

%-

-

927,

250

-

-

71So

nali

Bank

20

.11.

2019

9059

62-

30,

000,

000

-

30

,000

,000

6.

00%

-

-

927,

250

-

-

72So

nali

Bank

20

.11.

2019

9059

63-

20,

000,

000

-

20

,000

,000

6.

00%

-

-

614,

167

-

-

73So

nali

Bank

20

.11.

2019

9059

64-

20,

000,

000

-

20

,000

,000

6.

00%

-

-

614,

167

-

-

74Ja

nata

Ban

k19

.11.

2019

0547

225

-

3

0,00

0,00

0

-

30,0

00,0

00

6.70

%-

-

1,05

3,57

5 -

-

75A

gran

i Ban

k Lt

d19

.11.

2019

5074

08-

40,

000,

000

-

40

,000

,000

6.

00%

-

-

1,

246,

000

-

-

BERC 31


Sl. N

oN

ame

of B

ank

Ope

ning

Dat

eFD

R N

o.

Inv

estm

ent

Inte

rest

Rat

e %

Int

eres

t

Ope

ning

B

alan

ce

Inv

estm

ent

D

urin

g

the

Year

Enc

ashe

d

Dur

ing

th

e ye

ar

Clo

sing

B

alan

ce

Ope

ning

B

alan

ce

Rec

eive

d D

urin

g th

e Ye

ar

Acc

rued

D

urin

g

the

Year

Enc

ashe

d

Dur

ing

th

e ye

ar

Clo

sing

B

alan

ce

1

23

4 5

6 7

=(4

+5-

6)

8.00

9 10

1

1 1

2=9+

10

13=

(9+

10-

12)

76A

gran

i Ban

k Lt

d19

.11.

2019

5074

09-

30,

000,

000

-

30

,000

,000

6.

00%

-

-

943,

500

-

-

77A

gran

i Ban

k Lt

d20

.11.

2019

5074

10-

40,

000,

000

-

40

,000

,000

6.

00%

-

-

1,

252,

333

-

-

78Ba

ngla

desh

Kri

shi B

ank

19.1

1.20

1938

42-

20,

000,

000

-

20

,000

,000

7.

00%

-

-

721,

833

-

-

79Ba

nk A

sia

Lim

ited

19.1

1.20

1903

1884

1-

15,

000,

000

-

15

,000

,000

8.

00%

-

-

629,

000

-

-

80CI

TY B

ank

Lim

ited

19.1

1.20

1975

0003

-

1

0,00

0,00

0

-

10,0

00,0

00

9.00

%-

-

47

1,75

0 -

-

81BR

AC B

ank

Lim

ited

19.1

1.20

1948

006

-

1

0,00

0,00

0

-

10,0

00,0

00

8.50

%-

-

44

5,54

2 -

-

82So

nali

Bank

30

.12.

2019

9059

67-

50,

000,

000

-

50

,000

,000

6.

00%

-

-

1,

263,

000

-

-

83Ja

nata

Ban

k30

.12.

2019

0547

231

-

6

0,00

0,00

0

-

60,0

00,0

00

6.70

%-

-

1,70

8,50

0 -

-

84Ba

sic

Bank

Lim

ited

30.1

2.20

1911

8846

-

1

0,00

0,00

0

-

10,0

00,0

00

7.00

%-

-

29

7,50

0 -

-

85CI

TY B

ank

Lim

ited

30.1

2.20

1950

004

-

1

0,00

0,00

0

-

10,0

00,0

00

8.50

%-

-

36

1,25

0 -

-

86BR

AC B

ank

Lim

ited

30.1

2.20

1948

007

-

1

0,00

0,00

0

-

10,0

00,0

00

8.50

%-

-

36

1,25

0 -

-

87M

TBL

30.1

2.20

1932

9125

-

1

0,00

0,00

0

-

10,0

00,0

00

8.50

%-

-

36

1,25

0 -

-

88So

cial

Isla

mic

Ban

k30

.12.

2019

1051

2307

-

1

0,00

0,00

0

-

10,0

00,0

00

10.5

0%-

-

44

6,25

0 -

-

89So

nali

Bank

26

.01.

2020

9059

70-

20,

000,

000

-

20

,000

,000

6.

00%

-

-

340,

000

-

-

90Ja

nata

Ban

k27

.01.

2020

0547

235

-

2

0,00

0,00

0

-

20,0

00,0

00

6.70

%-

-

49

0,40

3 -

-

91A

gran

i Ban

k Lt

d26

.01.

2020

0507

416

-

2

0,00

0,00

0

-

20,0

00,0

00

6.00

%-

-

43

9,16

7 -

-

92Ba

ngla

desh

Kri

shi B

ank

26.0

1.20

2038

56-

20,

000,

000

-

20

,000

,000

7.

00%

-

-

512,

361

-

-

93IF

IC B

ank

26.0

1.20

2013

5276

8-

20,

000,

000

-

20

,000

,000

9.

25%

-

-

677,

049

-

-

94Pr

emie

r Ba

nk li

mite

d26

.01.

2020

0219

8119

-

2

0,00

0,00

0

-

20,0

00,0

00

8.00

%-

-

58

5,55

6 -

-

95Ba

nk A

sia

Lim

ited

26.0

1.20

2003

1888

1-

10,

000,

000

-

10

,000

,000

6.

00%

-

-

219,

583

-

-

96Ba

ngla

desh

Com

mer

ce

Bank

26.0

1.20

2020

0849

-

1

0,00

0,00

0 -

10

,000

,000

9.

00%

-

-

329,

375

-

-

G

rand

Tot

al 1

,658

,233

,188

72

6,80

0,00

0 98

0,00

0,00

0 1,

405,

033,

188

31

,973

,148

5

3,50

0,92

0 3

4,51

2,34

0 5

3,85

7,65

0 31

,616

,417

2018

-201

9

Ope

ning

Bal

ance

(Pri

ncip

al)

1,4

37,5

00,0

00

Add:

Enc

ashm

ent (

Prin

cipa

l) 1

,307

,500

,000

Less

: Inv

estm

ent (

Prin

cipa

l) 1

,528

,233

,188

1,6

58,2

33,1

88

BERC32


Ban

glad

esh

Ene

rgy

Reg

ulat

ory

Com

mis

sion

Inte

rest

Rec

eiva

ble

& R

ecei

ved

Cal

cula

tion

As

at 3

0 Ju

ne 2

020

Sl.

No.

Nam

e of

Ban

kD

ate

FDR

No.

Rec

eive

d pr

inci

pal

Rat

eR

enew

al P

rinc

ipal

A

mou

nt

Rat

e R

ecei

ved

S

ourc

e Ta

x E

xcis

e

Dut

y N

et I

nter

est

Rec

eive

d

Int

eres

t R

ecei

vabl

e

Sou

rce

Ta

x E

xcis

e

Dut

y S

ourc

e Ta

x+

Exc

ise

Dut

y N

et

Inte

rest

D

aily

12

34

5=

1*2/

360*

D

6 7

8 9

=3*

4/36

0*D

10

11

1

2=10

+11

1

3=9-

12

1Ba

sic

Bank

Lim

ited

20.0

5.20

1810

2732

21,0

67,5

00

7.00

%22

,309

,016

6.

00%

1,

306,

770

196

,016

-

1,11

0,75

5 15

2,44

5

2

2,86

7 -

22

,867

12

9,57

8

2IF

IC B

ank

20.0

5.20

1812

8510

3

20

,000

,000

10

.50%

24,0

07,8

58

10.5

0%

1,8

60,8

33

186

,083

-

1,

674,

750

28

7,09

4

2

8,70

9

28,7

09

258,

385

3A

gran

i Ban

k Lt

d03

.07.

2018

5073

49

31

,466

,250

5.

75%

31,4

54,2

50

5.75

%

10,

052

1

,508

-

8

,544

1,7

98,5

71

269,

786

-

269,

786

1,52

8,78

6

4Ja

nata

Ban

k03

.07.

2018

0547

558

20,0

00,0

00

6.00

%21

,008

,000

6.

75%

6,6

67

1

,000

-

5,

667

1

,410

,162

21

1,52

4 -

21

1,52

4 1,

198,

638

5M

TBL

27.0

2.20

1931

9819

10,0

00,0

00

9.25

%10

,783

,750

6.

00%

606

,389

90,9

58

- 51

5,43

1

2

22,8

64

33,

430

33

,430

18

9,43

5

6So

nali

Bank

01.0

4.20

1909

0594

1

70

,000

,000

6.

00%

73,5

45,0

00

6.00

%

3,1

50,0

00

472

,500

25

,000

2,

652,

500

1

,103

,175

16

5,47

6 -

16

5,47

6 93

7,69

9

7Ja

nata

Ban

k01

.04.

2019

5475

94

80

,000

,000

6.

25%

84,2

50,0

00

6.25

%

3,

750,

000

562

,500

-

3,18

7,50

0

1,3

16,4

06

197,

461

-

197,

461

1,11

8,94

5

8A

gran

i Ban

k Lt

d01

.04.

2019

5073

86

30

,000

,000

6.

00%

31,5

30,0

00

6.00

%

1,

350,

000

202

,500

-

1,14

7,50

0

4

72,9

50

70,

943

-

70,9

43

402,

008

9Ba

ngla

desh

Kri

shi B

ank

01.0

4.20

1937

81

80

,000

,000

6.

75%

84,5

65,0

00

7.00

%

4,

050,

000

607

,500

-

3,44

2,50

0

1,4

79,8

88

221,

983

22

1,98

3 1,

257,

904

10EX

IM B

ank

01.0

4.20

1985

1190

20,0

00,0

00

9.00

%21

,530

,000

9.

00%

1,35

0,00

0

2

02,5

00

- 1,

147,

500

484

,425

7

2,66

4

72,6

64

411,

761

11BR

AC B

ank

Lim

ited

01.0

4.20

1907

0478

10,0

00,0

00

9.25

%

10,

799,

354

6.00

%

693,

750

104

,063

-

5

89,6

88

161

,990

2

4,29

9

24,

299

137

,692

12IF

IC B

ank

01.0

4.20

1912

8541

5

20

,000

,000

10

.25%

2

1,80

0,00

0 6.

50%

1,53

7,50

0

2

30,6

25

-

1

,306

,875

3

54,2

50

53,

138

5

3,13

8

3

01,1

13

13CI

TY B

ank

Lim

ited

01.0

4.20

1975

0005

20,0

00,0

00

9.00

%

21,

514,

500

6.00

%

1,

350,

000

202

,500

-

1,1

47,5

00

322

,718

4

8,40

8

48,

408

274

,310

14Pr

emie

r Ba

nk li

mite

d01

.04.

2019

0278

794

20,0

00,0

00

8.00

%

21,

603,

000

7.00

%

1,

200,

000

180

,000

-

1,0

20,0

00

378

,053

5

6,70

8

56,

708

321

,345

15Ja

nata

Ban

k15

.04.

2019

0547

595

20,

000,

000

6.50

%

2

1,10

5,00

0 6.

50%

97

5,00

0

1

46,2

50

-

828

,750

3

42,9

56

51,

443

5

1,44

3

2

91,5

13

16Ba

ngla

desh

Kri

shi B

ank

15.0

4.20

1962

9502

30,

000,

000

7.00

%

3

1,77

3,00

0 6.

00%

1,31

6,14

6

19

7,42

2

-

1,1

18,7

24

397

,163

5

9,57

4 -

5

9,57

4

3

37,5

88

17Ba

nk A

sia

Lim

ited

15.0

4.20

1938

1062

20,0

00,0

00

9.00

%

2

1,60

8,00

0 6.

00%

1,35

0,00

0

13

5,00

0

-

1,2

15,0

00

270

,100

2

7,01

0

27,

010

243

,090

18Ba

ngla

desh

Com

mer

ce

Bank

15.0

4.20

1942

39 2

0,00

0,00

0 9.

00%

21,

518,

000

9.00

%

1,

350,

000

202,

500

-

1

,147

,500

4

03,4

63

60,

519

6

0,51

9

3

42,9

43

19Ja

nata

Ban

k25

.06.

2019

5472

13 3

0,00

0,00

0 6.

70%

31,

708,

500

6.70

%

1,

976,

500

296

,475

-

1,6

80,0

25

3

5,40

8

5,3

11

-

5,3

11

3

0,09

7

20A

gran

i Ban

k Lt

d26

.06.

2019

6769

9 2

0,00

0,00

0 6.

00%

21,

008,

000

6.00

%

1,

183,

333

177

,500

-

1,0

05,8

33

1

7,50

7

2,6

26

-

2,6

26

1

4,88

1

21Ba

sic

Bank

Lim

ited

25.0

6.20

1911

8549

30,

000,

000

7.00

%

3

1,77

3,00

0 6.

00%

2,06

5,00

0

3

09,7

50

-

1

,755

,250

31,

773

4

,766

-

4

,766

27,

007

22Ba

ngla

desh

Kri

shi B

ank

25.0

6.20

1938

11 1

8,23

3,18

8 7.

00%

19,

306,

063

7.00

%

1,

255,

051

188

,258

-

1,0

66,7

93

2

2,52

4

3,3

79

-

3,3

79

1

9,14

5

23Ba

ngla

desh

Com

mer

ce

Bank

25.0

6.20

1928

54 2

0,00

0,00

0 9.

00%

21,

518,

000

9.00

%

1,

770,

000

265

,500

-

1,5

04,5

00

3

2,27

7

4,8

42

-

4,8

42

2

7,43

5

24Pr

emie

r Ba

nk li

mite

d25

.06.

2019

0278

900

20,

000,

000

8.00

%

2

1,77

3,00

0 7.

00%

1,57

3,33

3

2

36,0

00

-

1

,337

,333

25,

402

3

,810

3

,810

21,

592

25BR

AC B

ank

Lim

ited

08.0

7.20

1948

005

- 0.

00%

2

1,80

0,00

0 9.

50%

-

-

-

-

2

,030

,731

30

4,61

0

-

304,

610

1

,726

,121

26Ja

nata

Ban

k14

.10.

2019

5472

240

0.00

%

20,

000,

000

6.70

%

-

-

-

-

9

56,6

11

143,

492

14

3,49

2

8

13,1

19

BERC 33


Sl.

No.

Nam

e of

Ban

kD

ate

FDR

No.

Rec

eive

d pr

inci

pal

Rat

eR

enew

al P

rinc

ipal

A

mou

nt

Rat

e R

ecei

ved

S

ourc

e Ta

x E

xcis

e

Dut

y N

et I

nter

est

Rec

eive

d

Int

eres

t R

ecei

vabl

e

Sou

rce

Ta

x E

xcis

e

Dut

y S

ourc

e Ta

x+

Exc

ise

Dut

y N

et

Inte

rest

D

aily

12

34

5=

1*2/

360*

D

6 7

8 9

=3*

4/36

0*D

10

11

1

2=10

+11

1

3=9-

12

27Ba

ngla

desh

Kri

shi B

ank

14.1

0.20

1938

280

0.00

%

35,

000,

000

7.00

%

-

-

-

-

1,7

49,0

28

262,

354

12,0

00

274,

354

1

,474

,674

28IF

IC B

ank

14.1

0.20

1913

5261

30

0.00

%

15,

000,

000

10.2

5%

-

-

-

-

1,0

97,6

04

164,

641

-

164,

641

932

,964

29So

uth

East

Ban

k Lt

d.14

.10.

2019

7522

232

00.

00%

1

0,00

0,00

0 9.

50%

-

-

-

-

678

,194

10

1,72

9 -

10

1,72

9

5

76,4

65

30So

nali

Bank

20

.11.

2019

9059

600

0.00

%

30,

000,

000

6.00

%

-

-

-

-

1,1

05,0

00

165,

750

12,0

00

177,

750

927

,250

31So

nali

Bank

20

.11.

2019

9059

610

0.00

%

30,

000,

000

6.00

%

-

-

-

-

1,1

05,0

00

165,

750

12,0

00

177,

750

927

,250

32So

nali

Bank

20

.11.

2019

9059

620

0.00

%

30,

000,

000

6.00

%

-

-

-

-

1,1

05,0

00

165,

750

12,0

00

177,

750

927

,250

33So

nali

Bank

20

.11.

2019

9059

630

0.00

%

20,

000,

000

6.00

%

-

-

-

-

7

36,6

67

110,

500

12,0

00

122,

500

614

,167

34So

nali

Bank

20

.11.

2019

9059

640

0.00

%

20,

000,

000

6.00

%

-

-

-

-

7

36,6

67

110,

500

12,0

00

122,

500

614

,167

35Ja

nata

Ban

k19

.11.

2019

0547

225

00.

00%

3

0,00

0,00

0 6.

70%

-

-

-

-

1

,239

,500

18

5,92

5 -

18

5,92

5

1,0

53,5

75

36A

gran

i Ban

k Lt

d19

.11.

2019

5074

080

0.00

%

40,

000,

000

6.00

%

-

-

-

-

1,4

80,0

00

222,

000

12,0

00

234,

000

1

,246

,000

37A

gran

i Ban

k Lt

d19

.11.

2019

5074

090

0.00

%

30,

000,

000

6.00

%

-

-

-

-

1,1

10,0

00

166,

500

-

166,

500

943

,500

38A

gran

i Ban

k Lt

d20

.11.

2019

5074

100

0.00

%

40,

000,

000

6.00

%

-

-

-

-

1,4

73,3

33

221,

000

-

221,

000

1

,252

,333

39Ba

ngla

desh

Kri

shi B

ank

19.1

1.20

1938

420

0.00

%

20,

000,

000

7.00

%

-

-

-

-

8

63,3

33

129,

500

12,0

00

141,

500

721

,833

40Ba

nk A

sia

Lim

ited

19.1

1.20

1903

1884

10

0.00

%

15,

000,

000

8.00

%

-

-

-

-

7

40,0

00

111,

000

-

11

1,00

0

6

29,0

00

41CI

TY B

ank

Lim

ited

19.1

1.20

1975

0003

00.

00%

1

0,00

0,00

0 9.

00%

-

-

-

-

555

,000

8

3,25

0

-

83,

250

471

,750

42BR

AC B

ank

Lim

ited

19.1

1.20

1948

006

00.

00%

1

0,00

0,00

0 8.

50%

-

-

-

-

524

,167

7

8,62

5

78,

625

445

,542

43So

nali

Bank

30

.12.

2019

9059

670

0.00

%

5

0,00

0,00

0 6.

00%

-

-

-

-

1,5

00,0

00

225,

000

12,0

00

237,

000

1

,263

,000

44Ja

nata

Ban

k30

.12.

2019

0547

231

00.

00%

60,

000,

000

6.70

%

-

-

-

-

2

,010

,000

30

1,50

0

-

301,

500

1

,708

,500

45Ba

sic

Bank

Lim

ited

30.1

2.20

1911

8846

00.

00%

10,

000,

000

7.00

%

-

-

-

-

350

,000

5

2,50

0

52,

500

297

,500

46CI

TY B

ank

Lim

ited

30.1

2.20

1950

004

00.

00%

10,

000,

000

8.50

%

-

-

-

-

425

,000

6

3,75

0

-

63,

750

361

,250

47BR

AC B

ank

Lim

ited

30.1

2.20

1948

007

00.

00%

10,

000,

000

8.50

%

-

-

-

-

425

,000

6

3,75

0

63,

750

361

,250

48M

TBL

30.1

2.20

1932

9125

00.

00%

10,

000,

000

8.50

%

-

-

-

-

425

,000

6

3,75

0

-

63,

750

361

,250

49So

cial

Isla

mic

Ban

k30

.12.

2019

1051

2307

00.

00%

10,

000,

000

10.5

0%

-

-

-

-

525

,000

7

8,75

0

78,

750

446

,250

50So

nali

Bank

26

.01.

2020

9059

700

0.00

%

2

0,00

0,00

0 6.

00%

-

-

-

-

4

00,0

00

60,

000

-

6

0,00

0

3

40,0

00

51Ja

nata

Ban

k27

.01.

2020

0547

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BANGLADESH ENERGY REGULATORY COMMISSION …

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